Update on the JSE’s Equity Market halt
August 25, 2011
Johannesburg, 24 August 2011: Further to our communication
issued yesterday, 23 August, regarding yesterday’s half an hour halt to trading
on the JSE’s equity market, MTN (the JSE’s international links service provider)
has indicated that the cause of the loss of connectivity was due to multiple
link flaps occurring between 15h32 and 15h41 on the primary telecommunications
link over which the JSE Equity Market public data flows.
link flaps originated in the corresponding International carrier network in
Europe. Due to the very short duration of these interruptions, the JSE multicast
traffic (public data) would not switch to one of the other alternate paths
automatically as would be the case with a longer duration interruption. This
resulted in the JSE Equity Market clients missing approximately 177 000 public
data messages. This necessitated the JSE halting the Equity Market for just over
30 minutes on 23 August to allow clients to recover the missed public data in
order to ensure JSE clients had an accurate and up to date picture of the
current state of the Equity Market.
Interruptions of this nature require
manual intervention to reroute the traffic if they persist, however in this
case, the corresponding International carrier network in Europe recovered before
any manual intervention could be initiated.
MTN indicated that this
failure did not have an impact on other customers of MTN.
As South Africa’s only full service securities exchange, the JSE
connects buyers and sellers in four different financial markets, namely
equities, equity derivatives, commodity derivatives and interest rate
instruments. The JSE Ltd offers the investor a truly first world trading
environment, with world class technology, surveillance and settlement in an
emerging market context. It is amongst the top 20 largest equities exchanges in
terms of market capitalisation in the world.
For further information, please
INFORMATION PLEASE CONTACT:
Victoria Williams / Renata Da Silva
Corporate Communications Consultants
Tel: 011 463 2198 /
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